After fees and commissions he would net about $200K to pay off the mortgage at a standard sale.

"flipping" :) but I've never jumped into the water (until now).

Use a standard as-is agreement between you and the seller.

Margin space at the top and bottom, sides, font size = pages to be filed with many standard documents = $$$$$$$ Filing feesWhile it does standardize documents, many attorneys may have charges per page = $$$$$Need a copy of filed documents from the Recorder= $$$$$Fees to be charged are often regulated by statute at the state level and is in some places seen as a taxing issue, so they can manipulate an increase by requiring the number of pages to present a deed or assignment for example.

I've read that they typically pay utilities like heat and garbage, but a lot of people mention that they themselves pay the water bill and sewage bills which can get expensive. 5.

While according to your estimates only 50% of the house was damaged, the entire house would have suffered smoke damage and possibly some water damage.

Tenants pay all utilities, water, etc.I am paying all cash for this property.

In addition, I tend to do things like install quarter-turn shutoffs on all the water lines, make sure smoke detectors are installed, all lights are working etc.

What if the property is under water?

What type of equity (profit sharing) partnership is considered normal standard in our industry?